Equities

Turbulent markets claim three more IPOs

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Maoye, Solargiga and Samko postpone their listings due to tough market conditions, declining relative valuations and fears of a difficult aftermarket.

The volatile market conditions have forced another three Asian listing candidates to withdraw their initial public offerings shortly before pricing, while a fourth is pondering its options. The deals have been postponed despite a turnaround in regional equity markets towards the end of last week.

Sources say the damage had already been done when the share prices of their respective peers dropped during the IPO marketing periods, eroding the relative valuations of the newcomers. And rather than instil confidence among investors that the markets may have reached the bottom, the ...

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